Tuesday, July 23, 2013



CNX FMCG is moving in a channel. Most of the times the index traded in higher part of the channel which shows the interest of the investors to hold to the stocks in this group. However it looks Index gave false breakdown(market with circle) once.

Index is now ready to give a breakout of the channel which promise that the FMCG is going to be strong going forward. However the daily technicals RSI, Stochastic looks started forming a negative divergence.
Price action promising more up move on index.

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